Oar Resources Reports REE Results from Historic Western Eyre Peninsula Drill Core

THE DRILL SERGEANT: Oar Resources (ASX: OAR) reported further rare earth element (REE) results gleaned from geochemical analysis of historical exploration drill core samples from the company’s 100 per cent-owned Western Eyre Peninsula project in South Australia.

Oar Resources said strong assay results were achieved from 262 historical drill core samples, taken from 10 drill holes across the project’s Conical Hill prospect and Hill 55 anomaly.

Assays for the submitted samples returned total rare earth (TREO) values up to 2806ppm with high value magnet rare earth oxides (MREO) accounting for up to 37 per cent of the TREOs.

Ninety per cent of the holes returned assay values greater than 1000ppm TREO.

“These latest results are encouraging for Oar Resources as we continue to analysis the extensive set of historical drill core samples, covering our Western Eyre Peninsula tenement,” Oar Resources managing director Paul Stephen said in the company’s ASX announcement.

“This region of South Australia has not previously been explored using today’s technology or standards, and it has never been assessed for REE potential.

“These initial results reinforce the presence of REE across the Western Eyre Peninsula project, suggesting there is great REE potential in this largely underexplored part of Australia.

“The OAR team continues to advance our exploration efforts for REE and critical minerals, while simultaneously assessing new opportunities and building a world-class team, as we focus on delivering metals of the future.”

Oar Resources indicated it intends to follow up these results by expanding its current sampling program to include additional historic holes which targeted 82 magnetic anomalies.

Oar is in the process of reviewing geophysical data with the aim of identifying further intrusives and has lodged a drilling proposal for an initial 21-hole RC program at Conical Hill to test the revised geophysical model, the intrusion at depth targeting fresher parts of the intrusion, as well as the magnetic core.

 

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